Friday, July 4, 2008

Scams Targeting Seniors

Grandma it’s me scam is a scam that targets very elderly seniors. The scammers use young people to commit this rouse. The scam works this way. A phone call is placed to the elderly target and begins Grandma it’s me! Don’t you know who I am? The senior will then volunteer a name and the scammer plays along. The scammer posing as the grandchild tells the elderly person that they are some sort of trouble and need money. The make the senior target promise not to tell the parents and to keep the whole thing a secret. The senior then wires money to the scammers. The average loss ranges from $200-$2,000.
Another scam targeting seniors is the Medicare discount card scam. Seniors are called on the phone and offered huge discounts on prescription drugs if they purchase a special Medicare discount card. The scammers get the senior target to disclose credit card and bank account numbers along with other personal information. The scammers then use the account information to withdraw funds from the accounts.

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